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Digital Identity, Security & Online Fraud

CO-OP Financial Services adds COOPER Fraud Analyzer to its services

Tuesday 5 February 2019 | 01:34 PM CET

CO-OP Financial Services has added COOPER Fraud Analyzer to its CO-OP Shared Branch services to give credit unions the means to compete with big banks.

The aim of this integration is to generate additional use cases and optimise machine learning to provide a secure experience for credit unions and their members. As such, COOPER Fraud Analyzer uses rules, decisioning and reporting to identify suspicious transactions. This way, they enable the issuer credit union to review the activity, and verify with the member.

At the same time, COOPER Fraud Analyzer monitors all account-based transactions within the CO-OP Shared Branch network, which includes teller, CO-OP Mobile, Sprig by CO-OP, Shared Branch Express Kiosk/ATM, CO-OP Contact Center, and remote deposit capture.

Moreover, CO-OP is developing COOPER Fraud Score for account and card-based CO-OP products, as well. They are using machine learning with the aim to create a risk-scoring model that determines the level of suspicion for a transaction.

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